Garrison Investment Group announced the funding of a $74.3 million term loan credit facility, in conjunction with a $40.0 million asset-based revolving credit facility provided by Wells Fargo Capital Finance, to Interior Specialists, Inc. Proceeds from the transaction were used to finance the company’s acquisition of Advance Flooring and Design and refinance existing debt.
Garrison Loan Agency Services served as administrative agent on the transaction. ISI is a portfolio company of Littlejohn & Co., a leading middle-market private equity firm.
Interior Specialists, Inc., based in Carlsbad, CA, is distinguished as the country's largest new construction interior finishing contractor, furnishing a wide array of products and installation services for single-family, multi-family and commercial builders. ISI supplies and installs flooring, cabinetry, countertops, window coverings and builder construction options, including appliances, to the residential and commercial builder trades.
Advanced Flooring and Design LLC, based in Trenton, NJ, serves the residential and commercial building industry offering product and installation services of flooring and window coverings to its customers.
Garrison Investment Group LP and its affiliates ("Garrison") is an alternative investment and asset management firm founded in March 2007 and headquartered in New York. Garrison focuses on deploying capital across its corporate finance, real estate, consumer finance and structured credit investment strategies. Garrison Corporate Finance provides credit solutions to underserved middle market and lower middle-market companies across a broad range of industries that are primarily based in the United States.